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Record trade deficit weighs on US economy in first quarter

The Edge Markets LogoThe Edge Markets1 mo ago

Record trade deficit weighs on US economy in first quarter

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But the bounce is losing momentum as the Federal Reserve aggressively tightens monetary policy to combat inflation, heightening fears of a recession.

That was revised down from the 1.5% pace of decline reported last month.

Business spending on equipment remained solid through May, while the goods trade deficit narrowed significantly as exports hit a record high.


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Article Details

Category: InvestingFinance

Topics: Record Spending Government Rate Trade Deficit Quarter Domestic Pace Economy Last

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-29, 12:49:44

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Reading Time: 2 minutes read

Article Length: 304 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 20315

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About The Edge Markets

The Edge Markets Logo

Main Topics: InvestingFinance

Official Website: theedgemarkets.com

Update Frequency: 114 posts per day

Year Established: 1994

Headquarters: Malaysia

News Last Updated: 12h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #17

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